Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year Low – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price hit a new 52-week low on Monday . The stock traded as low as $22.80 and last traded at $23.00, with a volume of 89704 shares trading hands. The stock had previously closed at $23.58.

Okeanis Eco Tankers Stock Performance

The firm has a market cap of $740.05 million and a P/E ratio of 6.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The stock’s 50 day moving average is $29.72 and its two-hundred day moving average is $31.17.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. As a group, equities analysts predict that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.83%. Okeanis Eco Tankers’s payout ratio is presently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Okeanis Eco Tankers in the third quarter valued at about $206,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. BBR Partners LLC acquired a new stake in Okeanis Eco Tankers during the 3rd quarter valued at $326,000. Acadian Asset Management LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers in the third quarter worth $383,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.